Wheat Futures End Mixed

I’m KayDee Gilkey with the Market Line Report for June 18, 2013.

Wheat futures were weaker in overnight trade but firmed with the start of daytime hours on Monday. Wheat softened around midday and ended narrowly mixed in Chicago and Kansas City, while Minneapolis wheat finished 1 to 3 cents lower. Kansas City wheat led the push to the upside on concerns rains across the Central and Southern Plains could cause some quality damage and slow harvest. From the floor of the CME Group, Joe Vaclavik shares his observations of Monday’s markets.

Vaclavik: “Grain markets were mixed here in Chicago on Monday. We had the corn market higher across the the board, we had kind of a mixed trade in the soybeans and the wheat market kind of mixed as well.”

Chicago July Wheat ended Monday down a 1/4 of a cent at 6-80 and 1/2. July corn ended the day up 13 and 1/2 cents at 6-68 and 1/2.
Portland prices for soft white wheat and club wheat were mixed down a penny to up 1 and 3/4 cents at mostly 7-29 and a 1/4. Hard Red Winter Wheat with 11.5 pct protein prices were mixed down 2 and 3/4 to up 2 and 1/4 cents at mostly 8-41 and 3/4. DNS wheat with 14 pct protein prices were down 3 and 3/4 to 9 and 3/4 cents at mostly 9-02 and 1/4.

August live cattle were up Monday 92 and half cents at 119-25. August Feeder cattle were up $1.12 and a half at 144-52 and half. July class III milk was up 14 cents at 18-17.